Edmonton Real Estate Statistics – November 16, 2009
Well another week has gone by and things are not improving. As of this morning there are 1,794 active single family homes in Edmonton proper which is almost the same as the inventory level we had last week.
The real concern comes from the number of sales in the previous 30 days of single family homes in Edmonton proper at 546. That is a 5% drop in the number of sales in just one week. It also brings the listings to sale ratio up from 3.11:1 that we had last week to 3.29:1 this week. Both of these are indicators that the market is softening.
Sellers will have to be more aggressive in their list price in comparison to their competition, but the ratio is still not high enough to put downward pressure on valuations. So I would expected the valuations to remain fairly stable over the short term.
Also keep in mind that historically we do get a slow down in the market at this time of year until approximately February when things start to heat up again.
